Well we had weaker than expected production numbers and the market is up! Go figure....Perhaps it was further confirmation that the Fed will embark on QE2 when they meet next month and the market likes that? Well bonds are up today so you can write your own story about it. All the quants studies were pointing to limited upside and more downside. It's early days yet so we could still end up with this scenario. Market internals have come off the highs.
I was looking at AAPL before and noticed that the skew on it is incredibly high. I decided to enter into another BWB but this time to the upside so I bought the 360/370/390 Call BWB for $0.14 credit. Again too hasty with the entry as it is trading more around $0.23. It should be an interesting after market when AAPL reports. I'm expecting better than expected earnings but AAPL is already up around 5% since last week on anticipation. Could it really climb another 10-15%??
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